Knowledge Bank launches second charge comparison tool

Knowledge Bank has teamed up with Loans Warehouse to allow brokers to compare first and second charge mortgage criteria side by side.

Loans Warehouse is uploading criteria for all its panel lenders onto Knowledge Bank which will allow advisers to compare more than 400 second charge loans alongside first-charge options.

Loans Warehouse also offers packaging for those brokers who would prefer to outsource the process.

Knowledge Bank chief executive Nicola Firth says: “Loans Warehouse is a driving force in the second charge loan sector as is evident with providers such as Vida offering their new and exciting second charge loan range through them.

“With this partnership we are creating the ability for brokers to search for second charge loans based upon the unique criteria of their clients.

“We will also provide an easy access link through to Loans Warehouse for when brokers want more help regarding the second charge market.

“This offers brokers a simple, upfront way to ensure that they can always provide their client with best advice whether it’s on a first or second charge and provide the evidence that they have done so.”

Loans Warehouse co-founder Matt Tristram (pictured) says: “This partnership with Knowledge Bank will be revolutionary for brokers as, for the first time, they will be able to compare criteria for first and second charge loans side by side.

“If a second charge is the right option, we are also offering a helping hand to both package the case and provide easy access to the right lender for their client.

“Brokers are pretty fed up with taking several steps down the advice process only to find out that their client’s circumstances do not fit the lending criteria.

“That’s why we’re very pleased to create this partnership, which gives brokers the confidence of knowing, right at the outset, whether there is a criteria match.”

Recommended

You have just joined Loans Warehouse as a strategic adviser – do you think the sector has shed the negative image it had in the past? Perceptions may not have changed everywhere, but the sector is very different post the credit crunch, and will change again with FCA regulation. Now is the time to dispel […]

Secure loan master broker Loans Warehouse has appointed former Council of Mortgage Lenders director general Michael Coogan as a strategic adviser to the firm. Coogan had most recently been an adviser to Deloitte, but he left the role last month. Prior to this he spent 16 years as the CML’s director general, between December 1996 […]

The directors of secured loan master broker Loans Warehouse last week set up a new second charge lender called Clearly Loans. The lender will offers from £5,000 to £30,000 to customers in England, Scotland and Wales with mild adverse credit up to 85 per cent LTV. It will lend up to 75 per cent LTV […]